American Intercontinental University
Unit 5 Individual Project
MKTG 205 – Principles of Marketing
August, 17, 2012
The following information provided in this paper explains how a specified company utilizes proper and effective marketing methods in order to sell their products on a global scale. Furthermore, in reference to the company, their tactics, methods, and constraints within the business involving the target market, pricing strategy, and company competition are demonstrated in this paper as well. The specified company referenced in this report is Mars Inc.
Unit 5 Individual Project
The principles of marketing apply to every business and operation that produces and sells some type of commodity in exchange for profit. The marketing mix contains specific tools, which help companies and their marketing team to build and evaluate a product, structure the price based on the value, effectively promote the product, and place the product with best-suited channels of distributions. For a company that operates on a global scale, such as Mars incorporated, these tools are even more important to assess. Describe Main Line of Business of the Company
Mars Inc. is one of the largest privately owned companies in the U.S.A alone (FAQs, 2012). Best known for their chocolates and candies; the company offers a diversity of other products from segmented areas within their company concerning pet care products, symbioscience, drinks, gum, and foods (Market Summaries, 2012). The company has approximately over 70,000 associates working nationwide at one of their facilities, which are located globally in over 73 different countries (Where we Operate, 2012). Name Four Countries in which the Company Operates
The Mars Company caters to all kinds of people all around the world. Their operations reach far across seas and dwell in major areas of a country’s region (FAQs, 2012). Some notable countries that Mars currently operates include the following: 1. The United Kingdom: One of Mars’s oldest operational locations dating back to 1932. 2. France: The first Mars operation launched in 1951 and in 1952 begins importing pet food (History timeline, 2012). 3. China: The first China Mars operation launched in 1914 with Wrigley being the first segmentation that began selling products within the country (History timeline, 2012). 4. Mexico: The first Mars establishment was fully operating in 1991 (History timeline, 2012). By 1995, the establishment had grown to become the largest and most effective Mars plant nationwide (Mars, Incorporated History, n.d). Implementation of Competition
Due to the segmented areas, the company has several manufacturing industries of competition. These include areas of: candy, beverage, nonalcoholic beverages, teas, coffees, consumer products, and pet products (Market Summaries, 2012). Each segmented area has specific companies that compete with Mars Inc. For example, their beverage area competes with Coca-Cola and Pepsi Co., while their chocolate and candy area competes with Hershey and Cadbury (Mars, Incorporated, 2012). Because Mars Inc. possesses a vast network of global facilities, the company serves many consumers across the globe. For example, the Hershey Company reported having stronger operations in the domestic chocolate industry, while Mars holds stronger operations globally controlling 15% of the world in the candy business alone (Mars Chocolate, 2012). Implementation of Target Market
Because of the vast products and segmented areas, Mars Inc. has a multitude of consumers from all around the world. The company’s key audience appears to be the average consumers who shop using personal factors. The company expresses that all of their marketing responsibilities and practices reflect and serve the concerns of their consumers (MARS, INC. MARKETING CODE FOR FOOD, CHOCOLATE, CONFECTIONS AND GUM, 2010). Furthermore, they state this consistency applies globally as...